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recorded in the obama administration. not twice as large than the largest deficit in american history. not three times as large as the largest deficit in american history. but almost four times larger than the previous largest annual deficit in american history was the first year deficit recorded in the obama administration. we tip, that was the first time ever we run trillion dollar deficits, we continue to run trillion dollar deficits throughout that time. tax policy hasn't changed during that time. tax policy is exactly the same. you hear in the newspaper all the time, mr. speaker, the bush tax cuts. i don't know that that has meaning anymore. in 2001 and 2003 we did do some dramatic changes to tax policy. president obama extended all of those changes in 2010. that's the law of the land still today. tax policy has been exactly the same over this continuum. what has changed, mr. speaker, what has changed is the spending. the reason deficits have grown not one, not two, not three but almost four times larger than the previous record deficit in american history is not because tax poli
so far. this is the obama's administration offer. every day here in "the new york times"of the two proposals a the fiscal cliff continues to dominate washington here today and this week. irandy in alabama, republicans. caller: i think both of the approaches here are ridiculous. we keep talking about reforming the taxes when it is so complicated that an average person cannot even do it. it's really time to stop reforming the idea of taxes with all these tax ideas. it all it's going to do is drive up inflation. every time we raise taxes, inflation goes up. we really need to go to something like a consumption tax. there's a lot of space out your that do not even haven't come taxes, and their roads are really nice and they do not have been come taxes. they live off other taxes. i think they need to try to fix this whole thing was out just keeping throwing money at it. increasing rates and all of this stuff, it's madness. host: we showed you what senate majority leader harry reid had to say it in reaction to last night proposal from speaker john boehner. house democrats are having a cau
capacity at the airports to safeguard our system in the future. the obama administration and this congress have been great partners throughout this process, and we are grateful. the cost will be high, but it would be unfathomable in terms of the cost of lost productivity, disabled economies, and a fractured transportation networks should we fail to make those investments. the road ahead will be a challenge, but with the help of the government, we know that recovery is possible. thank you for holding this hearing, senator. >> we know well we are neighbors at professional office spaces across the street, we too, because of the densely populated character of our area, we have a lot of service to supply, and i thank you. you have done it well, and we are proud of the people at new jersey transfer, the sacrifices they have made on the job. we're glad to hear from you. >> thank you, mr. chairman. >> is an honor to be here the story, and i think you for that. it is an honor to have you as our senior senator. new jersey transit began monitoring for sandy days before the storm came ashore. personne
. in conclusion, the obama and -- above the administration is congress have been great partners that we are grateful. but costs will be high. they would be unfathomable and the terms of lost productivity, disabled economy and a fracture transportation network should we fail to make those repairs and investments. the road ahead will be a challenge but with the help of the federal government and our partners, we know recovery is possible. thank you for all to this hearing, senator. >> we know each other so well. we are neighbors in our professional office space across the street and because of the densely populated character of our area, we have a lot of service to supply. i think you have done it well and we're proud of the people at new jersey transfer for the sacrifice of any made to be on the job regardless of how they got to do it. we're glad to hear from me. >> thank you, mr. chairman. it is an honor to be here. thank you for you and the other senators and it is an honor to have you as our senior senator. new jersey transit began monitoring of planning for san the day visit -- days
't have a revenue problem, it has a spending problem. and under this administration, under president obama, we have seen record deficits and a record debt accumulate, and yet he keeps demanding that we raise taxes to pay for more spending. this will only hurt our economy. ernst and young has done an analysis of the president's proposal and said it will cost several hundreds thousands of jobs. there is a better way and the speaker has laid it out. it is an approach that calls for tax reform by reforming the tax code and passing responsible spending cuts in order to get our fiscal house in order. that's what america wants. this is our opportunity to do the big things. this is our moment to provide that leadership that america desperately wants and we stand here ready to take the action necessary. >> the american people are hurting right now and now is the moment where we need to step up to the plate and solve the problem. i don't know how any of us can look our kids and grandkids in the eye and explain to them that we aren't willing to pay for the things we are enjoying today but just going
Search Results 0 to 4 of about 5